In 2023, three nations made up 88% of the world’s lithium production: China, Chile, and Australia. The world’s top producing nations for lithium are shown in this chart. The most recent USGS release on lithium statistics is where these numbers originate (issued Jan 2024).
Direct lithium extraction from hard-rock mining, specifically from the mineral spodumene, is done by Australia, the world’s largest producer. The previous ten years have seen a significant increase in the nation’s output. 13,000 metric tonnes of lithium were produced in Australia in 2013, whereas 86,000 metric tonnes were produced in 2023.
With comparatively slower growth, Chile is ranked second. Producing 44,000 metric tonnes in 2023, Chile’s output increased from 13,500 metric tonnes in 2013. Lithium is extracted from brine in this South American nation, unlike Australia.
Over the years, China—which also extracts lithium from brine—has been contacting Chile. From 4,000 metric tonnes in 2013 to 33,000 metric tonnes in 2016, the nation’s domestic production rose.
Three Chinese businesses are among the top lithium mining corporations, and Chinese companies have grown their ownership interests in lithium producers worldwide. The largest, Tianqi Lithium, is heavily invested in Greenbushes, the largest hard-rock lithium mine in the world, located in Australia.
The fourth nation on our list, Argentina, has received investments from other nations to boost its output, and it has more than tripled its production during the past ten years.
The market for lithium has experienced a glut recently as a result of all the major producers raising output to meet the demand from the clean energy sector, particularly for electric vehicle (EV) batteries. This has led to a price fall of almost 80% from a record high that was reached in late 2022.
